| 1 | Income Tax: Losses under RDS legislation: scheme failure The First-tier Tribunal has held that a transaction involving the issue of relevant discounted securities did not result in a loss for tax purposes. | Articles | 01-May-2013 |
| 2 | Income Tax: Taxation of trail commission HM Revenue & Customs has published Brief 04/13 stating that trail commission payments passed on to investors in collective investment schemes and other associated investment products is subject to income tax, and that the payer must deduct tax at source from such payments. | Articles | 01-May-2013 |
| 3 | Corporation Tax: Group relief for capital losses The First-tier Tribunal has held that certain pre-Finance Act 2009 restrictions denied company A the ability to transfer to group company B a capital gain that accrued on the redemption of certain loan notes, denying A the ability to shelter the gain using B’s capital losses. | Articles | 27-Feb-2013 |
| 4 | Capital Gains Tax: Employee shareholders: the new ... Draft legislation, to be included in the Finance Bill 2013, has been published on the introduction of a new employment status. | Articles | 30-Jan-2013 |
| 5 | GAAR provisions and guidance: consultation HM Revenue & Customs is consulting on the draft Finance Bill 2013 clauses that are intended to introduce the general anti-abuse rule, together with draft guidance. | Articles | 30-Jan-2013 |
| 6 | Capital Gains Tax: Residence and double taxation The First-tier Tribunal has held that a taxpayer who lived principally in Spain between 2000 and 2008 was resident for tax purposes in the UK during the tax years 2003 to 2007. | Articles | 24-Oct-2012 |
| 7 | Capital Gains Tax: Rollover relief: compensation or goodwill The Upper Tribunal has held that part of the sum received by a taxpayer on the transfer of its business was compensation for the early termination of car dealership rights, not goodwill, and was not eligible for capital gains tax roll-over relief. | Articles | 26-Sep-2012 |
| 8 | Corporation Tax: Consortium loss relief The European Court of Justice has held that certain restrictions in the UK’s consortium relief rules are not compatible with EU law, as they are not justified by the objectives of preserving a balanced allocation of the power to impose taxes or of preventing the double use of losses, or by any combination of these. | Articles | 26-Sep-2012 |
| 9 | Corporation Tax: Deductibility of legal expenses The First-tier Tribunal has held that a UK company’s contribution to the legal expenses of an affiliated US company’s legal costs incurred defending a US prosecution were not incurred “wholly and exclusively for the purposes of the taxpayer’s trade” and were thus not deductible when calculating the corporation tax chargeable to the UK company. | Articles | 26-Sep-2012 |
| 10 | Capital Gains Tax: Foreign currency assets: chargeable gains ... HM Revenue & Customs is consulting on the simplification of the chargeable gains rules for companies which use a currency other than sterling for accounting purposes. | Articles | 30-Aug-2012 |
| 11 | Capital Gains Tax: Tax relief for contingent liabilities on share ... The First-tier Tribunal has held that a sum paid to settle a claim for misrepresentation, in connection with the sale of shares, was a contingent liability within the meaning of section 49(2) of the Taxation of Chargeable Gains Act 1992. | Articles | 26-Jul-2012 |
| 12 | Corporation Tax: Intra-group interest strip scheme The First-tier Tribunal has held that the assignor’s accounting treatment of an intra-group assignment of an interest strip was not in accordance with generally accepted accounting practice, and that the interest received by the assignee was not taxable under the loan relationship rules. | Articles | 26-Jul-2012 |
| 13 | Income Tax: Termination payment taxable as PILON The First-tier Tribunal has held that a termination payment was a contractual payment in lieu of notice, taxable as earnings rather than a damages payment to compensate the taxpayer for the employer’s breach of contract. | Articles | 26-Jul-2012 |
| 14 | New residence test and changes to ordinary residence The government is consulting on draft legislation to implement a statutory residence test as well as abolishing the concept of ordinary residence for income tax, capital gains tax and inheritance tax purposes. | Articles | 26-Jul-2012 |
| 15 | Proposals for a general anti-abuse rule The government is consulting on the introduction of a general anti-abuse rule. | Articles | 26-Jul-2012 |
| 16 | Corporation Tax: Post-completion reallocation of group relief The Court of Appeal has held that the seller of a group of companies was not entitled, under the terms of the tax deed to which it was a party, to require the purchaser to arrange that certain surrenders for group relief be made. | Articles | 31-May-2012 |
| 17 | Income Tax: Accommodation expenses: deductibility The First-tier Tribunal has held that expenditure on accommodation for an actor working in London, but whose home was in Cheshire, was deductible as it was incurred wholly and exclusively for the purposes of his job. | Articles | 31-May-2012 |
| 18 | Income Tax: Relief on interest: partnership not trading The First-tier Tribunal has held that a film partnership that engaged in a film licence and sub-licence arrangement was not trading, and so the individual partners that invested in the partnership will not be entitled to tax relief on interest borrowed to invest in the partnership. | Articles | 31-May-2012 |
| 19 | Corporation Tax: Consortium loss relief: AG opinion The Advocate General has opined that certain restrictions in the UK’s consortium relief rules are not compatible with EU law, as they are not justified by the objectives of preserving a balanced allocation of the power to impose taxes or of preventing the double use of losses. | Articles | 02-May-2012 |
| 20 | Corporation Tax: EU challenges UK corporate exit charges The European Commission has asked the UK to amend the legislation that imposes exit taxes on companies that move their place of effective management from the UK to another EU member state. | Articles | 02-May-2012 |
| 21 | Corporation Tax: Retrospective debt buyback: anti-avoidance ... The government has announced new legislation to amend the loan relationship rules concerning impaired indebtedness between connected companies. | Articles | 29-Mar-2012 |
| 22 | Significant tax disputes: HMRC's approach HM Revenue & Customs has announced new governance arrangements for significant tax disputes, with the aim of providing greater transparency, scrutiny and accountability. | Articles | 29-Mar-2012 |
| 23 | Income Tax: Salary sacrifice: travel expenses The First-tier Tribunal has considered the taxation of travel expenses and the effect of dispensations given by HM Revenue & Customs in relation to a salary sacrifice arrangement. | Articles | 01-Mar-2012 |
| 24 | Tax-transparent funds: consultation The Treasury is consulting on the government’s proposals for tax-transparent schemes for collective investment. | Articles | 01-Mar-2012 |
| 25 | Corporation Tax: Exclusivity payment held taxable as income The Upper Tribunal has held that a lump sum received by a company in return for entering into an exclusivity agreement was an income receipt and therefore subject to corporation tax as and when recognised in its accounts. | Articles | 25-Jan-2012 |
| 26 | Corporation Tax: Exit tax: deferred payment option The European Court of Justice has held that while, in principle, an exit tax on the unrealised gains of a company that transfers its place of effective management to another EU member state is not contrary to EU law, to require immediate payment of such a tax is disproportionate and contrary to EU law. | Articles | 25-Jan-2012 |
| 27 | Capital Gains Tax: Shares: negligible value The First-tier Tribunal has held that, for capital gains tax purposes, shares that do not have market value are of negligible value. | Articles | 01-Dec-2011 |
| 28 | Income Tax: PAYE or NICs: agency not liable The Upper Tribunal has confirmed that workers with unfettered substitution rights are not employees for the purposes of PAYE income tax and National Insurance contributions as they are not under an obligation to provide personal services. | Articles | 01-Dec-2011 |
| 29 | Loss relief: film leasing partnership not trading The First-tier Tribunal has held that a film partnership that entered into a sale and leaseback of a film was not trading. | Articles | 01-Dec-2011 |
| 30 | EU financial transaction tax: tax sans frontières? The European Commission has proposed a draft Directive for an EU financial transaction tax. While the FTT is targeted at financial institutions, the proposal is broader than expected, and potentially affects everyone (corporates, funds and individuals) resident in or carrying on business in the EU or with an EU counterparty. | Articles | 27-Oct-2011 |
| 31 | Financial transactions tax: proposal The European Commission has published a draft directive proposing a new EU-wide financial transaction tax. | Articles | 27-Oct-2011 |
| 32 | Corporation Tax: Loan relationships: intra-group debt The Upper Tribunal has held that a debt owed to a subsidiary company by its ultimate parent company did not constitute a loan relationship, and that the group’s accounting entries alone were not adequate evidence of a lending transaction. | Articles | 28-Sep-2011 |
| 33 | Preparing for an M&A deal: tax treatment of transaction costs An examination of the tax treatment of costs incurrred in the course of M&A transactions, and how to optimise the way in which costs are incurred and taken into account for tax purposes. | Articles | 28-Sep-2011 |
| 34 | Corporation Tax: Foreign branch exemption: revised guidance HM Revenue & Customs is consulting on revised draft guidance on the new corporation tax exemption for foreign branch profits. | Articles | 01-Sep-2011 |
| 35 | Corporation Tax: Substantial shareholding exemption: joint ... HM Revenue & Customs has published a brief, which states HMRC’s interpretation of the trading status requirement for the substantial shareholdings exemption in the context of joint ventures and entities without share capital. | Articles | 01-Sep-2011 |
| 36 | Corporation Tax: Basel III: regulatory capital instruments HM Revenue & Customs has published a discussion paper on the tax treatment of regulatory capital instruments that are created to comply with the requirements of Basel III. | Articles | 28-Jul-2011 |
| 37 | Income Tax: Tax residence and non-domicile: consultations The government is consulting on a statutory definition of tax residence and ordinary residence, and, separately, on reforms to the taxation of non-domiciled individuals. | Articles | 28-Jul-2011 |
| 38 | Corporation Tax: Foreign branch profits: HMRC draft guidance HM Revenue & Customs has published draft guidance on the new exemption from corporation tax on foreign branch profits, including its application to chargeable gains, the transition to the exemption and the application of the controlled foreign company-style anti-diversion rule. | Articles | 30-Jun-2011 |
| 39 | Corporation Tax: Tax avoidance and closure notices The Supreme Court has held that the reasons given by HM Revenue & Customs in closure notices do not restrict its ability to raise other arguments during an appeal and that a taxpayer partnership had not incurred capital expenditure for the purposes of the Capital Allowances Act 2001. | Articles | 30-Jun-2011 |
| 40 | Corporation Tax: Manufactured overseas dividends The Upper Tribunal has held that certain manufactured payments were overseas dividends in the hands of a UK resident company, even though paid out of share premium account, and so were deductible as management expenses. | Articles | 26-May-2011 |
| 41 | Common consolidated corporate tax base: draft Directive The European Commission has published a draft Directive for a common consolidated corporate tax base for businesses operating in the EU, to come into effect in 2013. | Articles | 28-Apr-2011 |
| 42 | Corporation Tax: Overpayments: taxable receipts | Articles | 28-Apr-2011 |
| 43 | UK bank levy The UK government has published draft legislation to introduce a bank levy, which will be payable from January 2011. | Articles | 01-Dec-2010 |
| 44 | The Finance Acts of 2010 The Finance (No. 2) Act 2010 has received Royal Assent and the Treasury is consulting on a third Finance Bill. | Articles | 28-Jul-2010 |
| 45 | Emergency Budget: a silver lining? The tax policy aims of the coalition government’s first Budget were to increase tax revenues and to make the UK a more attractive place in which to do business. Both these objectives have been addressed, initially at least, through simple variations in rates rather than structural changes, but there remains the possibility of more reform ahead. | Articles | 30-Jun-2010 |
| 46 | Coalition agreement roundup An overview of aspects of the coalition agreement and the Queen's speech with relevance for commercial lawyers. | Articles | 26-May-2010 |
| 47 | Insurance premium tax HM Revenue & Customs will consult on changing the law to close a perceived gap in the insurance premium tax legislation exposed by the outcome of the Homeserve litigation. | Articles | 01-Oct-2009 |
| 48 | M&A in the commodities sector: still going strong An examination of some of the practical and legal issues surrounding acquisitions of commodities trading operations. | Articles | 26-Aug-2009 |
| 49 | Taxing carried interest: proposals for change An examination of the taxation of carried interest earned by managers of private equity funds, and proposals for change in this area. | Articles | 26-Nov-2007 |
| 50 | Dealing with charities: key points for businesses An outline of some of the issues to be considered by companies when dealing with charities. | Articles | 22-Nov-2007 |